Summit Ministries Inc
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$14,762,699
Contributions
60%
Program Services
31%
Fundraising Events
6%
Other
2%
Investments
<1%
Government Grants
0%
Membership Dues
0%
Expenses in 2024
$14,883,391
Salaries & Benefits
47%
Other
22%
Grants
10%
Offices, Occupancy & IT
7%
Advertising & Promotion
6%
Fees to Service Providers
5%
Depreciation
3%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$7,472,993
$8,817,326
+18%
Government Grants
$0
$0
-
Fundraising Events
$986,500
$895,000
-9%
Program Services
$4,317,566
$4,601,994
+7%
Membership Dues
$0
$0
-
Investments
$110,230
$134,998
+22%
Other
$731,469
$313,381
-57%
Total Revenues
$13,618,758
$14,762,699
+8%
Expenses
2023
2024
Change
Grants
$1,185,026
$1,435,559
+21%
Benefits to Members
$0
$0
-
Salaries & Benefits
$6,746,154
$6,953,401
+3%
Fees to Service Providers
$729,796
$805,277
+10%
Advertising & Promotion
$1,090,333
$895,426
-18%
Offices, Occupancy & IT
$976,126
$1,081,555
+11%
Interest
$0
$0
-
Depreciation
$446,094
$414,259
-7%
Other
$2,760,948
$3,297,914
+19%
Total Expenses
$13,934,477
$14,883,391
+7%
Net income
2023
2024
Change
Net income
-$315,719
-$120,692
+62%
Functional Expenses
Summary
2023
2024
Change
Program
$10,442,070
$11,650,313
+12%
Admin
$2,184,450
$1,874,422
-14%
Fundraising
$1,307,957
$1,358,656
+4%
Total Expenses
$13,934,477
$14,883,391
+7%
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